Overall Revenue Growth
Total company revenues increased by 9% in U.S. dollars to $648 million, with a constant currency increase of 12%. The acquisition of rag & bone contributed 9 percentage points to constant currency growth.
European Wholesale Success
The European wholesale business posted a mid-teen growth rate driven by reliable product deliveries despite supply chain challenges.
Americas Wholesale Performance
Americas Wholesale revenues increased by 63% in U.S. dollars, driven by the addition of rag & bone and higher Guess shipments in the U.S. and Mexico.
Rag & Bone Outperformance
Rag & bone significantly outperformed expectations with strong wholesale shipments and growth in retail stores and online. The business is expected to reach over $320 million in sales, up from $250 million before acquisition.
Loyalty Program Success
In Europe, the new customer loyalty program led to a 36% increase in revenues from loyalty customers in Italy and Poland.